- BAYC NFT was mistakenly sold for an outrageously low price of $3,000 due to a typo error.
- The intended price tag was a whopping $300,000 (Rs 2.27 crores approx.).
- The owner of the NFT Max explained that the incident happened due to a “lapse of concentration”.
A Bored Ape Yacht Club (BAYC) NFT was sold for an outrageously low price of $3,000 (Rs 2.27 lakh approx.) due to a typo error.
It must be noted that the price tag was intended to have been a massive $300,000 (Rs 2.27 crores approx.).
According to a report, in what was a typical case of “fat finger”, the NFT sold for $3,000 was supposed to be listed for 75 Ethereum (ETH) which is about $300,000.
A fat finger error happens when people make a trade online for the wrong thing, or for the wrong amount.
Nevertheless, the owner of the NFT, that goes by the username “maxnaut” (real name, Max) ended up with a typo error and entered a listing price of 0.75 ETH instead of 75 ETH.
Max explained that the incident happened due to a “lapse of concentration,” and added that he lists “a lot of items every day and just wasn’t paying attention properly.”
He stated further, “I instantly saw the error as my finger clicked the mouse but a bot sent a transaction with over 8 eth [$34,000] of gas fees so it was instantly sniped before I could click cancel, and just like that, $250k was gone.”
And by the time the owner could correct his mistake, someone had already bought the NFT for the very low price tag. In fact, the grabber of the insanely discounted NFT deal even went on to pay an extra fee of $34,000 to snap up the NFT instantly before anyone else could attempt to steal it.
Interestingly, the current price for the NFT is $248,000, fetching the buyer a lot of quick bucks. Interestingly, the minimum price of a BAYC NFT starts at 52 Ethereum or approximately $210,000.
In the past, in a similar “goof-up” episode, The rare “Tiara Punk” NFT 7557 from the Cryptopunk family was accidently sold for 4.444 ETH, which was previously sold for 59.99 ETH.